Open Lending (NASDAQ:LPRO) Now Covered by Citizens Jmp

Analysts at Citizens Jmp began coverage on shares of Open Lending (NASDAQ:LPRO) in a report released on Friday, Marketbeat Ratings reports. The brokerage set a “market perform” rating on the stock.

Several other equities research analysts also recently weighed in on the stock. DA Davidson reduced their price target on shares of Open Lending from $8.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday. Needham & Company LLC decreased their price target on Open Lending from $7.00 to $2.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group cut Open Lending from a “buy” rating to a “hold” rating and dropped their price objective for the company from $8.00 to $3.70 in a research report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.62.

Open Lending Stock Down 15.0 %

Shares of NASDAQ:LPRO opened at $1.02 on Friday. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. The stock has a fifty day simple moving average of $4.58 and a two-hundred day simple moving average of $5.42. Open Lending has a 12-month low of $1.02 and a 12-month high of $6.97. The stock has a market capitalization of $121.74 million, a price-to-earnings ratio of 34.00 and a beta of 1.57.

Open Lending (NASDAQ:LPRO) last posted its quarterly earnings results on Monday, March 31st. The company reported ($1.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($1.23). Open Lending had a return on equity of 2.15% and a net margin of 4.78%. The company had revenue of $24.23 million during the quarter, compared to analysts’ expectations of $24.03 million. During the same period in the prior year, the firm earned ($0.04) EPS. On average, research analysts anticipate that Open Lending will post 0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. R Squared Ltd purchased a new stake in shares of Open Lending during the 4th quarter valued at about $25,000. Quantbot Technologies LP purchased a new stake in Open Lending during the fourth quarter valued at approximately $54,000. Quantinno Capital Management LP bought a new position in Open Lending in the third quarter worth approximately $68,000. Ameriprise Financial Inc. purchased a new position in shares of Open Lending during the 4th quarter worth $80,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Open Lending during the 4th quarter valued at $87,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

About Open Lending

Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, finance companies, and captive finance companies of automakers in the United States. The company offers Lenders Protection Program (LPP), which is a cloud-based automotive lending platform that provides loan analytics solutions and automated issuance of credit default insurance with third-party insurance providers.